Asia-Pacific: Market for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels 2024

Market Size for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Asia-Pacific

In 2023, after two years of decline, there was significant growth in the Asia-Pacific market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, when its value increased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Production of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Asia-Pacific

In value terms, grease fittings and oil seals production reached $X in 2023 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Exports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Exports in Asia-Pacific

In 2023, the amount of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels exported in Asia-Pacific rose sharply to X units, picking up by X% against 2022. Over the period under review, exports continue to indicate a remarkable increase. The growth pace was the most rapid in 2020 when exports increased by X%. The volume of export peaked in 2023 and is expected to retain growth in the immediate term.

In value terms, grease fittings and oil seals exports expanded rapidly to $X in 2023. Total exports indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2023 and are expected to retain growth in the near future.

Exports by Country

China dominates exports structure, finishing at X units, which was near X% of total exports in 2023. The following exporters - India (X units), Taiwan (Chinese) (X units) and South Korea (X units) - each finished at a X% share of total exports.

China was also the fastest-growing in terms of the non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels exports, with a CAGR of X% from 2012 to 2023. At the same time, South Korea (X%) and India (X%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. China (X p.p.) significantly strengthened its position in terms of the total exports, while India and Taiwan (Chinese) saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest grease fittings and oil seals supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an X% share of total exports. It was followed by South Korea, with a X% share.

In China, grease fittings and oil seals exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per unit, waning by X% against the previous year. Overall, the export price continues to indicate a noticeable downturn. The growth pace was the most rapid in 2016 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Imports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Imports in Asia-Pacific

In 2023, overseas purchases of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by X% to X units for the first time since 2018, thus ending a four-year declining trend. Overall, imports, however, showed a noticeable decrease. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, grease fittings and oil seals imports declined to $X in 2023. Over the period under review, imports, however, recorded a mild descent. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, China (X units), distantly followed by Japan (X units), South Korea (X units), Marshall Islands (X units), India (X units), Indonesia (X units), Singapore (X units), Vietnam (X units) and Malaysia (X units) were the largest importers of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, together creating X% of total imports.

Imports into China decreased at an average annual rate of X% from 2012 to 2023. At the same time, Marshall Islands (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Marshall Islands emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, India (X%), Malaysia (X%), South Korea (X%), Vietnam (X%), Singapore (X%) and Japan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Marshall Islands, Indonesia, India and South Korea increased by X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest grease fittings and oil seals importing markets in Asia-Pacific were China ($X), South Korea ($X) and Marshall Islands ($X), together comprising X% of total imports.

Among the main importing countries, Marshall Islands, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2023, with a decrease of X% against the previous year. Import price indicated measured growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per unit in 2022, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was South Korea ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform